I got an unsolicited retention offer on my Chase Sapphire Reserve, a $100 credit back against the AF which just posted. Chase sent me a secure message to tell me to expect it on my next statement. It's the same "COVID-19" credit I got last year when the pandemic was hot-and-heavy but I wasn't sure I would get another one. Nice surprise. 
Lowers the effective AF automatically from $550 to $450, and after the $300 travel credit from $250 to $150. (Travel credit was expanded to include gas stations and grocery stores last year due to less travel to make it easier to achieve.)
It may be targeted, perhaps based on my use (or lack of it) over the past 12 months, and overall relationship. Like many people, I haven't put a lot of travel spending on the card, but it has seen use for dining. However, my use was not as heavy as previous years since I had added other dining cards including AMEX Gold and I've been spending on other cards for SUBs or better CLIs. I have been a Chase customer for almost 21 years. I've got six credit cards with them and I opened checking and savings accounts last year on a banking SUB. For quite awhile, I left a chunk of my direct deposit going into my checking since it had been part of the SUB agreement, but I recently discontinued that.
According to TPG website, some members have reported $450 renewals in 2021 but others have had to pay the full $550 fee, even after contacting customer service. Their theory is that the fee reduction is being offered more to longer-time cardholders who have had the card for at least one year or more. I got mine in 2018 so I'm starting year four.
"While many cardholders have reported their cards renewing at $450 without issue, others have had a different experience. For some, their Chase Sapphire Reserve renewals in January and February have been processing at the full $550. And talking to a customer service representative didn’t yield any results on getting that changed ... We haven’t received official confirmation from Chase on any exclusions to the lowered annual fee benefit for the first quarter of 2021, but based on reader reports, it seems like it depends on how long you’ve carried the card. Readers who have had their Chase Sapphire Reserve for more than at least one year seem to be the ones seeing that $450 renewal. But those who applied in 2020 and are renewing their cards for the first time seem to be the group seeing the $550 annual fee."
Regardless, Chase Sapphire Reserve is still a definite keeper card for me but the extra $100 credit is appreciated, of course. IMO, it easily pays for itself in overall value. And it's just an outstanding travel and dining card.
- $300 Travel Credit
- $100 TSA Global Entry Credit ($25/year on average)
- $60 Door Dash Credit
- $120 Pelaton Credit
- ~$55 Added value for Roadside Assistance equivalent to a Basic AAA plan
(*Besides Roadside Dispatch assistance, pays first $50 up to 4x callouts annually.)
- 3x Ultimate Rewards (UR) points on Dining and travel worth approximately 4.5% to 6% in travel.
- 50% UR point bonus for redemption through Chase Travel portal and ability to pool points from Freedom, Freedom Unlimited, and INK Cash. Or ability to transfer to travel partners. (Makes CFU's 1.5% worth 2.25% in travel; Makes INK Cash & Freedom's 5% categories worth 7.5% in travel.)
- Wide definition of "Travel" to earn AF credits or 3x URs. (airlines, hotels, motels, timeshare, car rentals, cruise lines, travel agencies, discount travel sites, campgrounds, and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages.)
- Industry-leading travel insurances and protections including Primary Rental Car CDW, $1 Million AD&D insurance, payments for lost or delayed baggage, and trip delays or cancellations. (See link to thread below.)
- Travel perks to include Priority Pass airport lounge access, Visa Infinite concierge, Emergency Assistance, and rental car discounts with Avis, National, and Audi Silvercar.
- Shopping benefits: Extended Warranty Protection. Purchase Protection. Return Protection.
- No Foreign Transaction Fees
I thought there was a thread somewhere that included this but I cant find it so MODs please feel free to move.
But as a DP as of today Chase is still allowing $450 AF by charging $550 then issuing a $100 credit. Just wanted to pass this along.
@Aim_High thanks! Because of you mentioning this, I contacted Chase and was approved for the credit as well 
Edited to add this: Justed remembered I should check my statement from last year to see if I had received the credit then, and I'm happy to say I did 
. Don't remember if I had requested it our not.